What is the newly launched virtual power plant Starpower? What are the highlights worth paying attention to?

Author: Kyle

Reviewed by: Lemon

Virtual Power Plant Starpower

A virtual power plant is an energy management system that centralizes dispersed energy equipment through information communication technology and software systems to achieve a smarter and more flexible energy management method.

Starpower is an emerging decentralized virtual power plant project that combines technologies such as the Internet of Things, blockchain, and artificial intelligence to provide dispatchable energy equipment resources by connecting energy equipment such as air conditioners, water heaters, and energy storage batteries. At the same time, Starpower will cooperate with Arweave to ensure the transparency and traceability of all data, and jointly create a sustainable environment and reduce carbon emissions.

Like other DePIN projects, Starpower has also introduced a Token incentive model to encourage users to connect high-power power-consuming devices to the network. Whether you are an individual or an organization (company, shopping mall or school), you can join the Starpower network.

In addition to preparing the software provided by Starpower, users also need to purchase official (based on ARM TrustZone technology) smart plugs or officially recognized third-party smart plugs to connect power-consuming devices to the network. Starpower will use the power data and connected devices to The user is rewarded with $STAR in response. Currently supported devices mainly include some common household or commercial appliances. In the future, connection standards for more devices will be gradually opened, such as thermostats and energy storage batteries.

Starpower recent key events

The Starpower project will only be officially put into operation in January 2024. It has not been more than two months at the time of writing, but the project has already made a lot of progress. In terms of products, the allocation rules for NOVA points have been optimized and the Grants page has been improved. Starpower is more eye-catching in terms of project cooperation and activity development, which will be introduced in detail below.

Launch of Genesis NFT - Pioneer Pass

Not long after Starpower went online, it launched its Genesis NFT, the Pioneer Pass. Users can earn points by completing tasks on platforms such as Zealy or Taskon, and exchange them for corresponding whitelists based on their points ranking.

There are 10,000 Pioneer Passes in total, which are allocated according to the whitelist of different rights:

• OG whitelist: 2000 NFTs allocated, each wallet can get up to 2 NFTs;
• VIP whitelist: 4000 NFTs are allocated, and each wallet can get 1 NFT.

Pioneer Pass's free mint event is very popular. It started on February 22, and all 10,000 NFTs were minted within half a day. Subsequently, Pioneer Pass launched NFT markets such as Magic Eden, Tensor and OKX. In just one day, the transaction volume exceeded 7777 SOL, and the NFT price rose to a maximum of 2.5 SOL.

Project Cooperation

As of March 13, Starpower had reached cooperation with 5 projects within two months, including:

*ABC inscription major organization-ABC Ventures;

• Solana inscription asset cross-chain bridge project - SoBit;
• Metaverse game platform—Ultiverse;
• The first trading platform of SRC20 protocol - OpenStamp;
• The first cross-chain GameFi project on the SRC20 protocol - BitDragon.

Genesis Pass and SRC-20 assets launched

Starpower has received good market response after launching the Pioneer Pass, and plans to continue launching the rare Genesis Pass in the future. At the same time, Starpower has reached a cooperation with OpenStamp to launch SRC20 assets (a Bitcoin network token standard inspired by the BRC-20 token standard and designed based on the Stamps protocol). For more details in the future, please continue to pay attention to project updates.

Future Planning and Outlook

Starpower's vision is ambitious, and its planning is clear and pragmatic - the test network is planned to be launched in the second quarter of 2024, and more than 10,000 network devices will be connected to the network at the same time; in the third quarter of 2024, the Starpower team plans to establish business revenue, academic Cooperation, business cooperation, government cooperation, and establishing a community of 100,000 users; finally by the fourth quarter of 2024, it is planned to launch the main network and issue $STAR.

The total amount of $STAR is 1 billion. According to the distribution mechanism, 70% of $STAR will be reserved for network builders. In addition, the Starpower team is fortunate to invite an interdisciplinary professional team to design a Token reward mechanism to attract more users to participate, thereby further promoting business development, increasing the value of $STAR, and attracting more users to achieve positive results. Toward the flywheel.

Starpower started at the beginning of the bull market. In just two months, it has performed quite comprehensively and has the potential to become a new star on the DePIN track. However, from a higher perspective, Starpower chose to shoulder the burden imposed by the times and joined hands with the Arweave protocol, which also pursues green environmental protection, to jointly solve the thorny climate problem and promote the early arrival of a "zero-carbon world".